Market Soapbox Week Ending 10/31/08
MON, late plunge, DJIA -203 on lower volume with ugly internals. All DOWN BIG cept SOXX. Bonds up 10yr -1bps 3.6%. $ up huge vs 1.251 & vs 93.065y, WTI -3% $62.15, gold down $731.15; TED Spread up +9bps 2.76%; Libor down -1bps 3.51
TUE, chump pump, DJIA +889 on heavy volume with pristine internals. ALL UP 10%. Bonds down BIG 10 yr +23bps 3.83, $ porked vs 1.2716 & vs 98.45y, WTI +2% $64.75 gold +2% $746.3, TED spread down -5bps 2.71%. 3mo Libor down -5bps 3.46.
WEN, split tape, DJIA -74 on higher volume with midlin internals.All DOWN cept DJTA, NDX, NAZ, MID, RUT, XAU, XOI. Bonds up +2bps 10 yr 3.85, $ down vs E1.2956 & vs 97.33y, WTI +8% $68.23, gold +1% $756.5, TED spread up+13bps 2.84%.; Libor -12bps 3.42%
THU, wild swings, DJIA +190 on average volume with sterling internals. All UP 3%+ Bonds down 10 yr +11bps 3.96. $ up vs 1.2883 & down vs 98.895y, WTI -4% $65.59, gold -2% $739.6; TED Spread down -3bps 2.81%; Libor -23bps 3.19
FRI, followthrough, DJIA +144 on higher volume with nice internals. All UP cept DJUA, XAU. Bonds Flat 10 yr 3.96%. $ up vs 1.2725 & down vs 98.465y, WTI +3% $67.81, gold -3% $718.2; TED Spread down -16bps 2.65%; Libor down -16bps 3.03
This week, DJIA +946, since 09/19/05 DJIA -1337. CRB commodities up 256 to 268.39
XAU up BIG 70.86 to 81.06 & gold down 733 to 718.2; XOI up HUGE 817.42 to 956.71 & WTI up 64.66 to 67.81; Volatility VIX down 79.13 to 59.89
TED Spread down -2bps 2.67 to 2.65%; 3 mo LIBOR down BIG -49bps 3.03%; Dollar index down 86.448 to 85.837; $ up BIG vs Yen 94.31 to 98.465 & down vs E 1.2622 to 1.2725
This week long bonds DOWN with short bonds UP HUGE.
30yr +26bps; 10yr +27bps, 5yr +24bps, 2yr +4bps, 6mo -45bps; 3mo -47bps.
30 yr @ 4.33%; 10 yr @ 3.96; 5 yr @ 2.83; 2yr @ 1.56; 6 mo @ 0.95; 3 mo @ 0.38
TUE, chump pump, DJIA +889 on heavy volume with pristine internals. ALL UP 10%. Bonds down BIG 10 yr +23bps 3.83, $ porked vs 1.2716 & vs 98.45y, WTI +2% $64.75 gold +2% $746.3, TED spread down -5bps 2.71%. 3mo Libor down -5bps 3.46.
WEN, split tape, DJIA -74 on higher volume with midlin internals.All DOWN cept DJTA, NDX, NAZ, MID, RUT, XAU, XOI. Bonds up +2bps 10 yr 3.85, $ down vs E1.2956 & vs 97.33y, WTI +8% $68.23, gold +1% $756.5, TED spread up+13bps 2.84%.; Libor -12bps 3.42%
THU, wild swings, DJIA +190 on average volume with sterling internals. All UP 3%+ Bonds down 10 yr +11bps 3.96. $ up vs 1.2883 & down vs 98.895y, WTI -4% $65.59, gold -2% $739.6; TED Spread down -3bps 2.81%; Libor -23bps 3.19
FRI, followthrough, DJIA +144 on higher volume with nice internals. All UP cept DJUA, XAU. Bonds Flat 10 yr 3.96%. $ up vs 1.2725 & down vs 98.465y, WTI +3% $67.81, gold -3% $718.2; TED Spread down -16bps 2.65%; Libor down -16bps 3.03
This week, DJIA +946, since 09/19/05 DJIA -1337. CRB commodities up 256 to 268.39
XAU up BIG 70.86 to 81.06 & gold down 733 to 718.2; XOI up HUGE 817.42 to 956.71 & WTI up 64.66 to 67.81; Volatility VIX down 79.13 to 59.89
TED Spread down -2bps 2.67 to 2.65%; 3 mo LIBOR down BIG -49bps 3.03%; Dollar index down 86.448 to 85.837; $ up BIG vs Yen 94.31 to 98.465 & down vs E 1.2622 to 1.2725
This week long bonds DOWN with short bonds UP HUGE.
30yr +26bps; 10yr +27bps, 5yr +24bps, 2yr +4bps, 6mo -45bps; 3mo -47bps.
30 yr @ 4.33%; 10 yr @ 3.96; 5 yr @ 2.83; 2yr @ 1.56; 6 mo @ 0.95; 3 mo @ 0.38
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